94,489 Broadcom Inc. $AVGO Shares Sold by Smith Group Asset Management LLC

Smith Group Asset Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 35.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,015 shares of the semiconductor manufacturer’s stock after selling 94,489 shares during the period. Broadcom accounts for about 3.9% of Smith Group Asset Management LLC’s holdings, making the stock its 4th biggest position. Smith Group Asset Management LLC’s holdings in Broadcom were worth $60,059,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new position in shares of Broadcom during the 2nd quarter valued at about $11,998,148,000. Bank of New York Mellon Corp purchased a new position in Broadcom during the 2nd quarter valued at $10,528,191,000. Jupiter Topco LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $7,396,271,000. State Street Corp lifted its holdings in shares of Broadcom by 8.7% during the second quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock valued at $75,367,711,000 after purchasing an additional 16,651,378 shares during the last quarter. Finally, Deutsche Bank AG purchased a new position in Broadcom in the second quarter worth about $5,661,216,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: DA Davidson upgraded Broadcom to Buy from Neutral and raised its price target to $400 from $350. The firm cited Broadcom’s exposure to major AI customers, including Anthropic and potentially OpenAI. Broadcom Falls Despite DA Davidson Upgrade
• Positive Sentiment: A $63 billion financing arrangement is expected to fund purchases of Broadcom AI hardware for Anthropic. The deal provides a potentially large, funded customer for Broadcom’s custom-chip and networking business, although the company could face substantial obligations under the agreement’s backstop. Broadcom’s $63 Billion Anthropic Deal
• Positive Sentiment: Longer-term investment theses remain favorable: Broadcom projects AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028. Meta’s planned financing for its AI expansion could also support additional demand for Broadcom’s custom silicon and networking products. Meta Financing Plan and Broadcom
• Neutral Sentiment: Broadcom is trading well below its record high and below its 50-day and 200-day moving averages. Analysts see upside, but valuation remains demanding, making execution of the AI growth forecast particularly important.
• Negative Sentiment: Intel’s weaker-than-expected forecast prompted investors to reassess semiconductor demand. Concerns were reinforced by Amazon’s results and the rising cost of building AI infrastructure, pressuring AI-exposed chip stocks broadly. Why Intel, AMD and Broadcom Are Falling
• Negative Sentiment: The Anthropic transaction also carries execution and financial-risk questions. Investors are waiting to see whether Broadcom can manufacture and deliver the required hardware at scale before fully crediting the projected revenue. Broadcom’s Anthropic Deal and Execution Risk

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $326.08 on Monday. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The business’s 50 day moving average is $352.81 and its two-hundred day moving average is $366.96. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.56 trillion, a price-to-earnings ratio of 41.65 and a beta of 1.49.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 earnings per share. Research analysts predict that Broadcom Inc. will post 10.37 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s payout ratio is presently 33.21%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AVGO. Erste Group Bank cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Truist Financial cut their target price on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. William Blair downgraded shares of Broadcom from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 27th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, HSBC cut their price objective on Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.